https://www.wsj.com/articles/amazon-berkshire-hathaway-could-be-among-top-payers-of-new-minimum-tax-11664098382
Amazon, Berkshire Hathaway Could Be Among Top Payers of New Minimum Tax
Just a few large companies would have paid the bulk of the 15% tax if it had been law during 2021, study finds
President Biden on Tuesday signed into law sweeping legislation aimed at lowering prescription drug prices and boosting the renewable-energy sector. The bill also imposes new taxes on large corporations to reduce the federal deficit. Photo: Mandel Ngan/AFP/Getty Images
By Richard Rubin
and Theo Francis
Sept. 25, 2022 5:33 am ET
WASHINGTON—A handful of large companies, such as Berkshire Hathaway Inc. and Amazon.com Inc., could bear most of the burden from a 15% corporate minimum tax President Biden signed into law last month.
Researchers at the University of North Carolina Tax Center analyzed securities filings to determine what companies would have paid if the tax had been in place last year. They found fewer than 80 publicly traded U.S. companies would have paid any corporate minimum tax in 2021, and just six—including Amazon and Warren Buffett's conglomerate—would have paid half of the estimated $32 billion in revenue the levy would have generated.